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The fizzle continues. It’s like watching toddlers trying to clean up their own mess. New CEO is extremely needed. One who can at least follow through and complete a new Twitter channel in less than 2 months and have a communication outlet for investors.
*****Just a matter of time FUNN stops reporting fins and this garbage is sent to the Expert Market where it will trade between .000001 and .0001 of a cent
retail will be hammered with massive loses here - with current anemic volume retail cant even dump/sell this POS right now
ENOUGH SAID
Yup, less revenue because they let go of the dead weight that would never become profitable (distribution) and due to COVID protocols that were still in effect in the earlier part of fiscal year 2022.
My crystal ball is broken, but revenue is on a growth path again in the 4th quarter, despite inflation, so hoping the trend continues.
$FUNN
$FUNN can make $100 million and it still will be considered sad ..
Not so funny.....actually just sad really.
Management just pulling numbers out of their butts again?
Whoop Whoop alright......sheesh.
I said Fiscal year 2022...TOO $FUNN EE!!! revs low from COVID reopening...Revs will certainly be stronger for Fiscal year 2023...
And it sounds like funn is approached by others that want to fund locations too !
-$2,023,449 NET LOSS Is not closing the gap
bwahahahaha
and those 2 inked deals better show all the details; including contingencies.
if they closed ChiTown, Provo, and at least 1 toronto cafe - I'd know that they were serious about moving towards positive net profitability
If they secured a low interest loan that would cover 5 years worth of
CEO salary
Accounting services
Auditing services
Hiring of commissioned salespeople
and the selling of franchises in USA
then It'd show desire to expand without diluting the crappe out of minority SH
lol
Thank you Plowmaster for the compressive analogy of the financials. We know there will be some decent. But IMO you did a great job. Hope everyone reads it .
Closing the gap to profitability and this included closures and restrictions during the past FY. Now unfettered, back to growth and full revenues.
Growth and trending right direction. 2 more locations funded. Get those in good places and FY23 can certainly be crossing the line to overall profits and self sustaining growth. (Which is where you want to be when approaching the larger banks)
Opportunity looks good!
3x the cafes for 40% less revenue. Yes, the company needs a lot of excuses and scapegoats to try to divert the blame.
I totally agree PM !
$10,383,686 Total Revenue for Fiscal 2022 !!! WHOOP WHOOP!!! Getting really $FUNN!!!
The filing says “In September of 2020, Snakes & Lattes Guelph inc stopped being operated.”
TORONTO, ON, Sept. 27, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – SNAKES & LATTES INC. (OTC: FUNN) is pleased to report an almost 200% increase in year over year FY22 revenue at $6,064,896, up from $2,027,988 for FY21, with gross profits up from $1,369,514 to $4,223,022.
Cash on hand at the end of the fiscal year was $55,156 with total assets of $4,083,773 over total liabilities of $9,037,903.
Cost of goods sold remains in line with expectations, hovering around 30% for the year.
Net Income was -$2,089,972 FY22 compared to -$3,564,440 FY21.
The total outstanding common share count of the company was 758,849,876 as of June 30th, 2022.
“Fiscal year 2022 was a challenging but transitional year. The numerous operational efficiencies designed and implemented are bearing fruit. We continuously look for ways to increase our KPI metrics and see positive trends in customer receipt value and operational cost reductions. Our revenues are trending significantly positive and closing the gap between gross profit and net income towards overall profitability. We are invigorated by this trend and believe it possible FY23 is the year we achieve aggregate profitability,” said Snakes & Lattes Inc. Founder, Ben Castanie.
During the pandemic, a significant amount of liability was incurred from government subsidy loans. Per accounting principles, these must be listed as liabilities. As debt forgiveness is processed, these come out of liabilities and move to income. While a significant portion has already been completed, there is still close to one half million remaining under liabilities that will be moved to income once forgiveness is finalized.
The past fiscal year represents a positive shift for Snakes & Lattes. The pandemic and resultant environment created numerous hurdles for the company, a couple which are still being navigated. Staffing and training remains a focal point for the company. The company experienced temporary location closures and/or operational restrictions in some locations during this fiscal year. While we have recovered from these and are trending positive, this fact had some impact on the overall annual numbers. However, as the numbers show, a healthy increase in comparative year over year revenues was still achieved. As we now have few restrictions and full operations, we are positioned well for the upcoming busy holiday season and the rest of FY23.
The pandemic also created a need for critical focus. This led to a hard look at all the areas of the company and the projects it was working on, and deprioritizing anything that did not directly contribute to maximizing revenues/location profitability. The current operational goal now being to open up profitable locations across the United States. We will only expand in Canada if the location is extremely attractive from all aspects. The US locations are needed for data leading to a higher level of financial growth; be it scale, bank and institutional level investment, profitability, auditing and uplist.
Within this strategy; if we find a location is not performing up to expectations despite operational improvements and we cannot see a path forward to profitability, then we may elect to divest ourselves of that location. This was the case for our Snakes & Lattes location in Guelph. After a comprehensive review of its operational metrics, costs, and revenues the company decided this location would ultimately not achieve profitability without significant financial and human resources. Even if such additional resources were applied, the risk of continued loss was too great. The location was closed on September 12th, 2022. On the opposite end of the spectrum, Tempe Snakes & Lattes continues to be the largest revenue generator and is trending well. This location remains the flagship for the United States locations and a model for operations. During Q4 of FY22, we also began to recognize revenue in our Provo, UT Snakes & Lattes location.
While the company continues to work on promising initiatives, implementation of many has seen a delay while we apply resources to work through staffing and training. We will report on initiative implementation as solid news becomes available. Until then, the sole focus is on optimizing current locations and US location expansion. As previously mentioned we currently have a signed loan agreement for specific locations to be funded. Currently, two locations are undergoing due diligence. Profitability is still a necessity and is a continued process until the goal is achieved.
As always, a big thank you to all our supporters and loyal customers, we continue to serve in honor to create the best possible experience for our patrons. The future of Snake and Lattes is very bright as we continue to focus on operational improvements and add on new locations; building our brand. Creating memorable quality human interactive experiences keeps us going, and at all times we keep the mission of ‘Snakes and Lattes locations coast in coast’ at the forefront of our strategy.
See you at Snakes & Lattes!
About Snakes & Lattes Inc.
Snakes & Lattes Inc. currently operates 7 tabletop gaming bars and cafes: 3 located in Toronto, Ontario, Canada, 1 in Tempe, Arizona, 1 in Tucson, Arizona, 1 in Provo, Utah, and 1 in Chicago, Illinois. The company is in the process of expanding throughout North America. Snakes & Lattes Inc. was the first board game bar and cafe in North America, and is believed to be the largest in the world. Our board game cafes have the largest circulating public library of board games in North America for customers to choose from.
For more information on Snakes & Lattes Inc., please visit the website at www.snakesandlattes.com.
For further updates from Snakes & Lattes inc. please follow us on Twitter @SnakesLattesInc
Safe Harbor Statement
This news release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results, new features or services, or management strategies) and other factors discussed from time to time in the Company's OTC Market or Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should,", "will", "expect," "anticipate," "believe," "estimate," "confident," "intend," "plan" and other similar expressions. Our actual results, such as the Company's ability to finance, complete and consolidate acquisition of IP, assets and operating companies, could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the company such as a result of various factors, including future economic, competitive, regulatory, and market conditions. The company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
Contact:
Ben Castanie
Snakes & Lattes Inc.
Telephone: (416) 500-2911
Email: ben@snakesandlattes.com
Half a million will come out from liability and to income, so there is a million dollar swing. Banks Will get involved once US data is more established we already have private funding for two more locations. Fiscal year 2023 will be a good year survived the pandemic and now beginning to thrive again. Going into the busy season looks good.
Wow the same story could have been said about Amazon in 2003. The entire statement could pretty much be said about every company that is not overall profitable. But if one looks at the trend it is in the right direction. The gap is closing and as mentioned FY23 can be the tide turner. Probably would have got there in 2020 if not for the pandemic. Once we have enough US data then banks will indeed invest. FY22 was a solid yesr
To get back on track FY23 is the year to turn to overall profitability.
Well that is simply false, and doesnt reflect reality at all. Let us know other pinks that have millions in recurring revenue and 1000’s of customers weekly, with much more room for growth.
No they did not typo the date. Last day for customers was 9/11, last day for the business was 9/12.
They told us that a couple weeks ago
Translation - Ben needs to pump out more bullshit to try to keep momentum going, because there is nothing going on here.
Nice to see the revenue coming through. Also nice to see the share price much higher this morning. Of course though, next time I look it’s back down at half a cent. ‘Ben needs to follow up with some positive news to keep the momentum going!
Maybe some should take into account world history the last two years before throwing out historical facts and figures.
Exactly, this turd bleeds money, just look at the payroll costs alone, all this talk about revenue is bullshit when your costs and debt are through the roof. This is going nowhere, Maybe a small short term bump which will enable some to get out before it goes belly up. Five years of increased debt, dilution, and operating losses, no one will lend this pos money, it all spells end of days for Funn.
WTF?!? staggering debt. This company is in a much bigger hole than I thought. The share-selling debt spiral is in motion as no bank will touch this with a 10ft poll
Yes! Nice news! Recovering well and on the path. Revenues coming back up, trending in the right direction. Going in to the busy holiday season, well positioned with opportunities all around!
$FUNN
Less rev than 5-6 years ago when there were only 3 cafes.
They finally mentioned Guelph is out of business. Though they typo’ed the date.
Let's spread this news around to various boards... as of now, very few know of this company.
Good to see!
Gm FUNN Fam! Nice revs! Coming back..UP!
Lets do this Snakes and Lattes babyy!
Creeping up, which is good. Now we need profits to come to fruitition. Let's see if we get there...
$FUNN
Annual report out this morning:
https://www.otcmarkets.com/otcapi/company/financial-report/347544/content
$FUNN
Below a penny since Aug 11. What shitty management! Glad I didn’t load those .01 calls. We have moved from stagnant to decaying. Ben knows what’s best. Idiot!
Annual due Wednesday. Looking forward to it....but not just to bullshit about it.
.
Annual this week, looking forward to it!
$FUNN
Non-essential adjustments....maybe. The ESSENTIAL adjustment needed here is all new management and a return of the existing management's 661M shares worth more than $4.5M when stolen from shareholders.
.
Adjustments get made in business all the time.
Guelph out of business, Cali location lost. The exact opposite of more locations.
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Snakes and Lattes, Inc. is the parent company to two subsidiaries
(Formerly known as Amfil Technologies, Inc. - waiting on FINRA for official name change)
**** Snakes and Lattes Investor Presentation Deck ****
**** Last Reported Share Structure ****
As of 07/15/2024
Authorized: 800,000,000
Outstanding: 791,159,680
Float: 509,072,305
http://www.otcmarkets.com/stock/FUNN/profile
http://www.otcmarkets.com/stock/FUNN/quote
http://www.otcmarkets.com/stock/FUNN/news
Subsidiaries
Board Game Café
Snakes & Lattes is Canada’s premiere board game café. Enjoy healthy and comfort food, drinks and spirits, coffee and tea while playing games from their vast selection. The games are organized so you can quickly find your favorite or discover something new. Don’t know what to play or want a suggestion? Snakes & Lattes has game gurus at every location willing to help! Waiting lines are typical at each location and each is highly positively reviewed on social review sites. Snakes locations also have periodic exciting events like Game Designer nights for upcoming game creators to test out their creations with real game enthusiasts..
Corporate owned/Franchising/Joint ventures
There are currently 3 locations in Toronto, Canada and the FIRST location in the U.S.A. opened in Tempe, Arizona on October 12th, 2018, with their largest and most extravagant acquisition in Chicago as their SECOND U.S.A location. The company has created a Snakes & Lattes USA Expandion and Buildout (SLUEB) team for rapid expansion via corporate location funding and joint ventures across North America, with the ultimate goal of reaching Europe and Asia. The Expansion team is currently on tour with interested parties for corporate locations in major cities across the USA. They are in active negotiation with multiple interested parties and continue to receive high interest as awareness of the brand and expansion effort grows.
Game retailer
Snakes & Lattes sells games direct at each location and online. As a master distributor, Snakes & Lattes buys below wholesale; capturing a higher margin on sales.
Event planning
Snakes & Lattes flagship Midtown location is the alpha model which all franchises and joint ventures will be based. The 10,000 sq.ft. café offers event services for parties; both private and corporate. Snakes provides a unique and enjoyable experience: Supplying a variety of foods, beverage, and games. On site Game gurus will help ensure a maximum good time. More and more corporate and private events are discovering Snakes as a great place to hold their events! This is one of the many rapidly growing segments of the business. Snakes also has a ‘Snakes-On-The-Go’ experience, a mobile version where they will bring the Snakes experience to you.
Marketing
Snakes & Lattes has game launching services for up and coming game publishers. Snakes’ experienced Gurus provide critical feedback and test play. Snakes marketing services for potential new game publishers including decor, themed cocktails, pastries, drawings, sales displays, online videos in the same way Hollywood launches movies. This provides Snakes with a unique advantage in being able to secure exclusive distribution rights with game designers once the game is launch ready.
What sets Snakes and Lattes apart?
There are many game board cafes out there, and more popping up all the time. This is a good thing! Game Board Cafes (GBC) is a fledgling industry, and has many years of growth ahead of it. There will be many one-off cafes and just as there are coffee shops, there will be some great ones! However, there is only one Snakes & Lattes Game Board Café. There is only one GBC that is also a brand, where the café location is only one part in the entire supply chain.
Snakes and Lattes has everything: Design, Publishing, Distribution, Fulfillment, Online and Retail Sales, Casual Food and Entertainment and Event Services.
More information can be found at: www.snakesandlattes.com
History of Snakes & Lattes:
• Unique idea, strategy fuel game cafe's success
X (Twitter) | YouTube | TikTok |
Interloc kings was established by Roger Mortimer in April of 2009. Interloc Kings is the premier landscape construction and snow removal service provider serving the GTA and York Region of Canada since 2009.
The team of designers and installation technicians delivers cutting edge landscape designs.
The company is rated A+ by the Better Business Bureau since becoming a member in 2011.
The company has a 9.7/10 rating on HomeStars.
Specializing in stone and wood installations between $5,000 and $150,000 per project, Interloc-Kings Inc. has quickly become a top, high quality installation company of outdoor living areas.
Mr. Mortimer brought this company into the Amfil Tec. umbrella in 2013 and as a result, he became CEO of Amfil Tech. at that time.
As the company continues to grow, the vision is to spin Interloc Kings off into a public company (shareholders will receive free shares of the new company) and grow Interloc Kings into a franchising network that will cross the United States border.
More information can be found at www.interloc-kings.com
Financials
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FUNN Timeline Presentation |
A visit to Snakes & Lattes Midtown - with Zee | Sam's Day Trip To Snakes & Lattes Midtown in Toronto |
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